Buying New Zealand Dollars? Moving to New Zealand?
NZ commodity prices fell for the fifth consecutive month in December in a broad-based slide, a survey by ANZ Bank showed. ANZ's commodity price index fell 7.4% on the previous month, a sharper drop than in November, and was down 24.4% on a year earlier.
Commodity prices falling will be negative with NZ looking to the farming community to prop up a slowing economy.
I like buying GBPNZD - technically a well defined risk reward (target 2.80, stop 2.44) as commodity price fall flows through to the real economy in NZ and we see a dramatic slow down in spending (on a year on year basis) and further increase in unemployment.
This also plays a bounce in GBP from its currently depressed levels.
Buy for now
IMS Foreign Exchange
NZ commodity prices fell for the fifth consecutive month in December in a broad-based slide, a survey by ANZ Bank showed. ANZ's commodity price index fell 7.4% on the previous month, a sharper drop than in November, and was down 24.4% on a year earlier.
Commodity prices falling will be negative with NZ looking to the farming community to prop up a slowing economy.
I like buying GBPNZD - technically a well defined risk reward (target 2.80, stop 2.44) as commodity price fall flows through to the real economy in NZ and we see a dramatic slow down in spending (on a year on year basis) and further increase in unemployment.
This also plays a bounce in GBP from its currently depressed levels.
Buy for now
IMS Foreign Exchange
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